AAA inks MoU with ICD for third time

The Islamic Development Bank Group (IsDB) organized its 44th Annual Meeting at Marrakech, Morocco, said a statement.

The event ended with signing a MoU between the Islamic Corporation for the Development of the Private Sector (ICD) and its partners from 54 member countries around the world.

AAA Finance & Investment signed the MoU with ICD for the third time as the strategic partner of ICD and the only organization representing Bangladesh.

ICD takes the lead in launching such a platform network to demonstrate productive applications of FinTech in modern global business affairs, to help reduce financial transaction costs for its member banks, leasing companies and financial institutions and to upgrade the advisory services that ICD offers to its partners across the Islamic developmental network.

The events also witnessed the signing of more than 41 MoUs between ICD and its partners, related to a new initiative, a Global Platform for Private Sector where community of like-minded financial entities can collaborate on business opportunities, exchanging market intelligence and laying a foundation for actual financial transactions within the OIC member countries and across borders.

ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and investments, which are in accordance with the principles of Shari'ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises.